GAINESVILLE, Fla. – In her annual report to Congress released yesterday, National Taxpayer Advocate Nina E. Olson identified the lack of guidance on the taxation of bitcoin as one of the “Most Serious Problems” facing the IRS. Use of the unregulated digital currency continues to grow while those who wish to be tax-compliant have no guidelines on how to appropriately report or handle bitcoin.

The issue has recently been highlighted in the media, notably in a December Wall Street Journal article, “How Will the IRS Tax Bitcoin?” which features comments from UF Law Professor Omri Marian. Marian is an international tax scholar who stands at the forefront of analyzing the future of bitcoin and other cryptocurrencies. His Michigan Law Review paper, “Are Cryptocurrencies ‘Super’ Tax Havens?” gained national attention and has positioned him as a leading expert on the topic.

Marian is available to address questions on bitcoin and its problematic status with the IRS.

National Taxpayer Advocate Nina Olson will speak at UF Law. Olson just submitted the National Taxpayer Advocate’s Annual Report to Congress, in which she advocates for Congress to adopt a comprehensive taxpayer bill of rights.

The event, sponsored by the UF Law Graduate Tax Program, is free and open to the public.